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Fitch pulls Ingenio Magdalena bond rating
Fitch Ratings said it withdrew the BB- rating of Ingenio Magdalena SA and co-borrowers' planned $350 million bond transaction. Co-borrowers under the proposed notes were IMSA and its main electricity and ethanol subsidiaries Biomass Energy, SA and Mag Alcoholes, SA.
Ingenio Magdalena refinanced its debt in full through a syndicated loan in March.
Fitch withdrew the ratings because Ingenio Magdalena no longer plans to sell the notes.
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